Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.

Publish Date : 29-Dec-2016

Maxis Bhd has inked a stock acquistion deal with MBNS Multimedia Technologies Sdn Bhd (MMT) to buy the remaining 25% non-controlling stake in Advanced Wireless Technologies Sdn Bhd (AWT) for RM15.83 million.

Under the deal, Maxis would also procure goods and services totaling RM3 million from MMT.

AWT fully-owns UMTS (M) Sdn Bhd, a company that holds a 2,100 megahertz (MHz) spectrum assignment from Malaysian Communications and Multimedia Commission for 15 years ending on April 1, 2018.

Maxis said the deal was another key step of the group's transformation to streamline its structure with the aim to provide it with enhanced operational agility and flexibility to respond rapidly in a fast-evolving telecommunications market.

The company said, "By acquiring the remaining 25 per cent stake in AWT and thus having full ownership of AWT, Maxis could accelerate its decision-making on matters surrounding the 2,100MHz spectrum assignment and other priority items that support its business plan and commercial objectives. Network infrastructure remains a critical component of the Maxis Group's transformation journey to provide unmatched customer experience".

Go to previous page